Finance & Economics | WPN World People News

Declining productivity growth and rising inequality are two of the biggest obstacles to improved economic performance, according to a new OECD report.

World Bank and Government of Azerbaijan have presented the findings of a new study undertaken by the World Bank experts entitled IT Sector and IT Skills in Azerbaijan: Challenges and Opportunities. The study assesses the strength and weaknesses of the IT sector in the country, and the gap between the skillset provided by the education system and those demanded by the employers in the IT industry. The analysis rely on discussions with the Government, interviews with public and private stakeholders, and surveys of the main IT industry players and technology universities.

On May 25, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the 2016 Article IV consultation with Côte d’Ivoire.

On May 27, 2016, the Executive Board of the International Monetary Fund (IMF) completed the seventh review of Albania’s economic performance under a program supported by the Extended Fund Facility (EFF). The completion of the review enables the authorities to draw an additional amount equivalent to SDR 28.65 million (about €36.1 million), bringing total purchases to SDR 209.49 million (about €263.7 million).

The Executive Board of the International Monetary Fund (IMF) on Friday approved a successor two-year arrangement for Mexico under the Flexible Credit Line (FCL) in an amount equivalent to SDR 62.389 billion (about US$88 billion) and canceled the previous arrangement (SDR 47.292, about US$67 billion). The Mexican authorities stated their intention to treat the arrangement as precautionary.

The European Investment Bank (EIB) is lending EUR 22.5 million – the first tranche of an approved loan of EUR 45 million – to JSC Bank Republic to finance SMEs and midcaps engaged in trade and commerce in Georgia.

Early efforts by governments to put a price on carbon pollution point to a growing role for emissions mitigation as a source of revenue. In 2015, governments raised about US$26b from charging for carbon emissions, up 60 percent from the previous year, according to the World Bank Group’s latest Carbon Pricing Watch 2016 report.

Targeted investments and effective local action can help eliminate the social and economic gap between Hungary’s poorest citizens and the rest of the society, say three reports prepared by the World Bank.

Development of the financial sector and raising financial literacy over the past several years have improved the financial inclusion in Azerbaijan, but it is still significantly lower than in many comparator countries, finds the new World Bank report Enhancing Financial Capability and Inclusion in Azerbaijan. The report, which analyzes the results of a survey of 4,620 adults across the country, on Tuesday 24 May was presented in Baku at a joint event organized by the World Bank, the Central Bank of Azerbaijan and the Financial Markets Supervisory Chamber.